14-18 Jan COMMODITY WEEKLY REPORT Jan.2019

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1 COMMODITY REPORT Jan Trade House 426 Alok Nagar, Kanadia Main Road Near Bangali Square Indore (M.P.) India Mobile :

2 COMMODITIES PREVIOUS WEEKS MOVEMENT Jan.2019) MCX WEEK HIGH WEEK LOW VALUE CHANGED % CHANGED GOLD (FEB.) % SILVER (MAR.) % CRUDE OIL (JAN.) % NATURAL GAS (JAN.) % COPPER ( FEB.) % NICKEL (JAN.) % LEAD (JAN.) % ZINC (JAN.) % ALUMINIUM (JAN.) %

3 GOLD (FEB.) R BUY GOLD ON DIPS TGT 31400,31650 SL BELOW GOLD SELL ON RISE TGT 31800,31550 SL ABOVE OPEN R Pivot S HIGH LOW CLOSE CHANGE -399 S % CHANGE -1.27% FUNDAMENTAL VIEW:- As U.S. Dollar Slips Gold Prices Edge Up On Friday in Asia Gold prices edged up as U.S. dollar dropped on expectations that the Federal Reserve may pause interest rates hike this year if the global economy continues to slow. On Thursday Jerome Powell the Fed Chairman reiterated that the central bank could afford to be calm on monetary policy, and downplayed suggestions that interest rates would be hiked twice more in Bullions prices are highly sensitive to rising interest rates, which lift the opportunity cost of holding non-yielding gold. The gold was also supported by concerns on weakening global growth, after countries including the U.S., Switzerland, China and France all reported weaker-than-expected data this month. TECHNICAL VIEW:- MCX Gold last week showed sideways to bullish movement and close around its major resistance level of For upcoming period if price breach then we will continue to suggest upward scenario up to next important resistance level of On downward side it has major support of and below this level it will take some correction and price may goes down toward.

4 SILVER (MAR.) R SILVER BUY ON DIPS TGT 39300, SL BELOW SILVER SELL ON RISE TGT 39100,38400 SL ABOVE OPEN R Pivot S S HIGH LOW CLOSE CHANGE -95 % CHANGE -0.24% FUNDAMENTAL VIEW:- Main Street Bullish On Silver For Third Straight Year For the third consecutive year, Main Street investors look for silver to outperform all other metals next year The strong optimism for silver comes despite the fact that the metal has been the worst performer in the precious metals space in 2018; prices have declined 13% heading into the new year. March silver futures last traded at $17.76 an ounce, down 0.73% on the day. TECHNICAL VIEW:- MCX Silver last week showed sideways to upward side movement and test major resistance level of For upcoming week if price maintains above then it can test next strong resistance of as well as continue with bullish bias. On lower side it has immediate support of and if price holds this level then it will push for sharp correction towards next support of and after that will act as a next crucial support and trend may also change.

5 CRUDE OIL (JAN.) R BUY CRUDE OIL ON DIPS 3500 TGT 3600,3700 SL BELOW 3350 CRUDE OIL SELL ON RISE 3850 TGT 3750,3650 SL ABOVE 4000 OPEN 3381 R Pivot S S HIGH 3764 LOW 3374 CLOSE 3629 CHANGE -248 % CHANGE -7.34% FUNDAMENTAL VIEW:- As Investors Await New Catalyst for Buying Crude Oil Prices Little Changed On Friday in Asia Crude Oil prices were little changed as investors awaited a new catalyst, either a breakthrough in U.S.-Sino trade talks or another impactful number on Saudi production cuts, to take the market higher. WTI and Brent are set for weekly gains of more than 7% and 8% respectively. On Wednesday the two countries concluded the latest round of trade talks. AL thought no deal has been reached yet, both sides said they had agreed to continue to keep in close contact, AL thought U.S. President Donald Trump said with China the U.S. was having "tremendous success" in its trade negotiations TECHNICAL VIEW:- MCX Crude oil last week showed bullish movement and also broke its bearish resistance line i.e levels as well as able to close above this level. For upcoming session it may continue with its bullish rally and test next major resistance level of 3800 and if price takes reverse movement from this level then we expect quick correction from higher to lower side towards support of 3550 and if price breaks this level then 3450 will be next support level.

6 COPPER (FEB.) R BUY COPPER ON DIPS 413 TGT 423,433 SL BELOW 397 COPPER SELL ON RISE 431 TGT 421,411 SL ABOVE 446 OPEN R Pivot S HIGH LOW CLOSE CHANGE -6.7 S % CHANGE -1.64% FUNDAMENTAL VIEW:- On the weekend base metals prices extend losses; lead edge up On Friday January 11 Base metals prices on the Shanghai Futures Exchange were broadly down during Asian morning trading, on Thursday extending the weakness experienced following disappointing economic data from China. Uncertain-than-expected producer price index (PPI) and consumer price index (CPI) data from China continues to dent investors appetite for riskier assets, spurring a sell-off across most of the base metals on the SHFE, with nickel and copper leading the decline. TECHNICAL VIEW:- MCX Copper last week showed quite volatile movement and it also test its major resistance level of 420 but unable to close above this level. For upcoming trading session it may give some downward side movement and test initial support of 410 and if price sustains below 410 then this bearish movement can take price towards next support level of 400 and if it takes quick recovery from lower to higher side then it can test strong resistance of 420 and above this level bullish trend may active up to next resistance of 430.

7 ECONOMIC CALENDER Time Cur. Event Actual Forecast Previous Monday, January 14, 2019 Tentative USD Fed Chair Powell Testifies Tuesday, January 15, 2019 Tentative USD Trade Balance B B 19:00 USD Core PPI (MoM) (Dec) 0.20% 0.30% 19:00 USD PPI (MoM) (Dec) -0.10% 0.10% 23:30 USD FOMC Member George Speaks Wednesday, January 16, :00 USD API Weekly Crude Oil Stock M 19:00 USD Core Retail Sales (MoM) (Dec) 0.10% 0.20% 19:00 USD Retail Sales (MoM) (Dec) 0.20% 0.20% Tentative USD Factory Orders (MoM) -2.10% 21:00 USD Crude Oil Inventories M M 21:00 USD Cushing Crude Oil Inventories 0.330M Thursday, January 17, :00 USD Building Permits (MoM) (Dec) -2.10% 5.00% 19:00 USD Building Permits (Dec) 1.290M 1.328M Tentative USD Goods Trade Balance (Nov) B B 19:00 USD Housing Starts (Dec) 1.260M 1.256M 19:00 USD Housing Starts (MoM) (Dec) 3.20% 19:00 USD Initial Jobless Claims 220K 216K 19:00 USD Philadelphia Fed Manufacturing Index (Jan) :00 USD Philly Fed Employment (Jan) 19.1 Tentative USD New Home Sales 569K 544K Friday, January 18, :30 USD IEA Monthly Report Tentative USD OPEC Meeting 20:30 USD Michigan Consumer Expectations (Jan) :30 USD Michigan Consumer Sentiment (Jan) :30 USD U.S. Baker Hughes Oil Rig Count

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